Seacoast Banking Co. of Florida (NASDAQ:SBCF) Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 73,205 shares of the financial services provider’s stock after selling 8,467 shares during the quarter. Federated Hermes Inc.’s holdings in Seacoast Banking Co. of Florida were worth $2,083,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 39.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 520 shares in the last quarter. Good Life Advisors LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter worth about $205,000. Xcel Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth about $238,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Seacoast Banking Co. of Florida in the third quarter worth approximately $242,000. Finally, Diversified Trust Co raised its holdings in shares of Seacoast Banking Co. of Florida by 5.8% during the fourth quarter. Diversified Trust Co now owns 13,154 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 718 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF opened at $23.38 on Monday. Seacoast Banking Co. of Florida has a fifty-two week low of $17.93 and a fifty-two week high of $29.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $24.02 and a two-hundred day moving average of $24.43. The stock has a market capitalization of $1.99 billion, a P/E ratio of 16.70 and a beta of 1.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. The business had revenue of $128.16 million during the quarter, compared to the consensus estimate of $135.33 million. On average, equities research analysts predict that Seacoast Banking Co. of Florida will post 1.47 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.18 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.72 annualized dividend and a yield of 3.08%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.43%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Raymond James increased their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Truist Financial reduced their price objective on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.63.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.